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Ohio Health and life insurance exam 100% Pass
Ohio Health and life insurance exam 100% Pass The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - Answer ️️ -cancelable Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? The policy automatically converts to whole life after the 10-year period - Answer ️️ -The face amount and premium will remain constant over th...
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Ohio Health and life insurance exam 100% Pass The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - Answer ️️ -cancelable Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? The policy automatically converts to whole life after the 10-year period - Answer ️️ -The face amount and premium will remain constant over th...
Ohio Life and Health Practice Exam Latest 2024 Graded A
Ohio Life and Health Practice Exam Latest 2024 Graded A An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - Answer ️️ -$5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - Answer ️️ -Death benefit An indemn...
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Ohio Life and Health Practice Exam Latest 2024 Graded A An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - Answer ️️ -$5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - Answer ️️ -Death benefit An indemn...
Life and Health Insurance - Ohio Licensing Exam 100% Pass
Life and Health Insurance - Ohio Licensing Exam 100% Pass Absolute Assignment - Answer ️️ -The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - Answer ️️ -A fortuitous event; unforeseen and unintended Accidental Death Insurance - Answer ️️ -A form of health insurance that provides payment if death of the insured res...
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Life and Health Insurance - Ohio Licensing Exam 100% Pass Absolute Assignment - Answer ️️ -The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - Answer ️️ -A fortuitous event; unforeseen and unintended Accidental Death Insurance - Answer ️️ -A form of health insurance that provides payment if death of the insured res...
Ohio life and Health Insurance Practice Final Already Passed
Ohio life and Health Insurance Practice Final Already Passed Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax- deductible when paid for which of the following plans? - Answer ️️ -Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - Answer ️️ -long-term care An attending physician's statement would be appropriate for which life insurance purpose? - Answer ️️ -At the request of the insurer to assist in the underwri...
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Ohio life and Health Insurance Practice Final Already Passed Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax- deductible when paid for which of the following plans? - Answer ️️ -Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - Answer ️️ -long-term care An attending physician's statement would be appropriate for which life insurance purpose? - Answer ️️ -At the request of the insurer to assist in the underwri...
Ohio Life and Health Insurance Exam Cram 100% Correct
Ohio Life and Health Insurance Exam Cram 100% Correct The term describing the insured's notification to the insurer requesting payment for a covered loss is: a. Limit of liability b. Premium c. Claim d. Deductible - Answer ️️ -An insurance claim is the insured's notification to the insurer that a payment is requested for a covered loss. The correct answer is: Claim Which of the following is the consideration an insured pays for insurance coverage? Select one: a. Deductible b. P...
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Ohio Life and Health Insurance Exam Cram 100% Correct The term describing the insured's notification to the insurer requesting payment for a covered loss is: a. Limit of liability b. Premium c. Claim d. Deductible - Answer ️️ -An insurance claim is the insured's notification to the insurer that a payment is requested for a covered loss. The correct answer is: Claim Which of the following is the consideration an insured pays for insurance coverage? Select one: a. Deductible b. P...
Life, accident and health insurance state exam- OH Already Passed
Life, accident and health insurance state exam- OH Already Passed A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - Answer ️️ -preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - Answer ️️ -better than average mortality The waiver of premium does NOT include which provision? - Answer ️️ -Al future premiums are waived if the insured recovers from t...
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Life, accident and health insurance state exam- OH Already Passed A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - Answer ️️ -preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - Answer ️️ -better than average mortality The waiver of premium does NOT include which provision? - Answer ️️ -Al future premiums are waived if the insured recovers from t...
Ohio Health Insurance Exam Questions and Answers 100% Correct
Ohio Health Insurance Exam Questions and Answers 100% Correct Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? A.) Guaranteed insurability rider B.) Additional coverage rider C.) Paid-up option rider D.) Extended insurability rider - Answer ️️ -Guaranteed insurability rider All of the following are...
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Ohio Health Insurance Exam Questions and Answers 100% Correct Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? A.) Guaranteed insurability rider B.) Additional coverage rider C.) Paid-up option rider D.) Extended insurability rider - Answer ️️ -Guaranteed insurability rider All of the following are...
Insurance License Exam - Ohio Health and Life Latest 2024 Graded A+
Insurance License Exam - Ohio Health and Life Latest 2024 Graded A+ immediate annuity - Answer ️️ -Jessica purchased an annuity with a single $175,000 premium payment, and payments began one month later. Based on these facts, what type of annuity did she purchase? Benefits are typically paid while the contract owner is alive - Answer ️️ -Compared with life insurance, which of the following statements regarding annuities is most correct? Mortality and interest assumptions - Answer ...
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Insurance License Exam - Ohio Health and Life Latest 2024 Graded A+ immediate annuity - Answer ️️ -Jessica purchased an annuity with a single $175,000 premium payment, and payments began one month later. Based on these facts, what type of annuity did she purchase? Benefits are typically paid while the contract owner is alive - Answer ️️ -Compared with life insurance, which of the following statements regarding annuities is most correct? Mortality and interest assumptions - Answer ...
Ohio life/health insurance study guide latest 2024 rated A+
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INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
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